Question: Problem #3: Absorption Reporting vs. Contribution Reporting (56 points) The following data was extracted from the accounting records of Lopez Fashion Idol Corp.: 1. Complete

$Problem \#3: Absorption Reporting vs. Contribution Reporting (56 points) The following$

data was extracted from the accounting records of Lopez Fashion Idol Corp.:

1. Complete table above by computing the total cost for February 2023

for each cost. ( 6 points) 2. Complete table above by computing

Problem \#3: Absorption Reporting vs. Contribution Reporting (56 points) The following data was extracted from the accounting records of Lopez Fashion Idol Corp.: 1. Complete table above by computing the total cost for February 2023 for each cost. ( 6 points) 2. Complete table above by computing the total cost for February 2023 for each cost. (8 points) 3. Prepare an absorption format income statement for February 2023 for Lopez Fashion Idol Corp. at the current volume. (8 points) Lopez Fashion Idol Corp. Income Statementi Absorption Format. For the Month Ended February 28,2023 4. Prepare a contribution format income statement for February 2023 for Lopez Fashion Idol Corp, at the current volume, (s points) Lopez Fashion Idol Corp. Income Statement: Contribution Format For the Month Ended February 28, 2023 5. Compute the following cost-volume-profit components for Lopez Fashion Idol Corp. using its results for February 2023. (8 points) 6. Compute Lopez Fashion Idol Corp.'s monthly breakeven point in units sold and in sales dollars. ( 8 points)

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